Vietnam Insider — Vietnam and the United States made notable progress during their third round of trade negotiations last week, though several critical issues remain unresolved and will require further analysis and continued dialogue, Vietnam’s Ministry of Industry and Trade said on Sunday.

The high-level talks took place in Washington, D.C. from June 9–12, as both countries face mounting pressure to reach a compromise ahead of the early-July expiration of a suspension on 46% “reciprocal” tariffs affecting a broad range of Vietnamese exports.

Vietnam’s trade surplus with the U.S. reached $12.2 billion in May, marking a 42% year-on-year increase and a 17% jump compared to April, according to government data. Total exports to the U.S. rose to $13.8 billion, setting a new high since the COVID-19 pandemic.

During the negotiations, U.S. officials presented a list of trade demands that Vietnamese representatives described as “tough,” including calls for Vietnam to reduce its reliance on industrial materials and components imported from China. However, the trade ministry noted that both sides had made progress in narrowing differences based on Vietnam’s official response and were working toward mutually acceptable solutions.

The two delegations agreed to convene a follow-up online meeting in the coming days between Vietnam’s Minister of Industry and Trade Nguyen Hong Dien and U.S. Secretary of Commerce Howard Lutnick to address outstanding concerns.

The latest round of talks also included U.S. Trade Representative Jamieson Greer, reflecting a trilateral format proposed by Washington.

In response to U.S. pressure, Vietnamese authorities have recently intensified efforts to combat illegal transshipment practices, particularly involving goods originating from China. Additionally, Vietnam has signaled its openness to easing non-tariff barriers and increasing imports of American goods such as aircraft, agricultural products, and energy—though no formal purchase agreements have been announced to date.

The ongoing negotiations are viewed as critical to maintaining stable economic ties between the two countries, especially as bilateral trade continues to expand rapidly.

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Source: Vietnam Insider